Two-time Academy Award winner Barbra Streisand, who has sung on the Oscars only once before, will perform on the upcoming 85th Annual Academy Awards telecast on February 24. Streisand last sang the love theme from A Star is Born on the March 28, 1977 show, winning the Best Original Song Oscar for "Evergreen" that same night.

Here's what 85th Annual Academy Awards producers Craig Zadan and Neil Meron had to say about bringing on this legendary performer.

"In an evening that celebrates the artistry of movies and music, how could the telecast be complete without Barbra Streisand? We are honored that she has agreed to do a very special performance on this year's Oscars, her first time singing on the show in 36 years."

Barbara Streisand wins Best Actress in 1968 for Funny Girl

Streisand won her first Oscar for Best Actress in Funny Girl (1968), and was nominated again in 1973 for her lead performance in The Way We Were. She was also nominated for producing the Best Picture nominee The Prince of Tides (1991), which she also directed, and for co-writing the original song "I Finally Found Someone" from The Mirror Has Two Faces (1996).

Academy Awards for outstanding film achievements of 2012 will be presented on Oscar Sunday, February 24, at the Dolby Theatre at Hollywood & Highland Center, and will be hosted by Seth MacFarlane live on the ABC Television Network. The Oscar presentation also will be televised live in more than 225 countries worldwide.